Netflix Spikes on Upgrade; Bloomin' Brands Revises Forecast

The Nasdaq fell below 5,000 as a sell-off among high-momentum biotech and tech stocks weighed on markets. Netflix (NFLX) gained after Bank of America upgraded shares to BUY from UNDERPERFORM. Analysts said a strong portfolio of original content would fuel an enormous international opportunity. Estee Lauder (EL) shares jumped after the cosmetic company reported a 30% increase in quarterly profit. Sales climbed 1% as currency exchange proved a challenge. Bloomin' Brands (BLMN) fell after lowering its revenue guidance for 2015. Stocks were lower after the March trade deficit surged, indicating first-quarter GDP could turn negative.